Tony
09-06-2000, 11:09 AM
I was quite surprised to read today that the average house price dropped in the first quarter this year. New government figures show that new house prices rose nationally by 1.6pc from the previous quarter, though second hand prices were down by 0.3pc nationally. New home prices in Dublin fell by 1.1pc, or nearly £2,000, in Dublin, while second hand home prices fell by 2.7pc. The average cost of a new house in Dublin is £162,044, while second hand houses averaged £177,266. Outside Dublin new houses average £126,550, while second hand houses were typically IR£137,029. I wonder, with the recent hike of .5pc rise in interest rates, will this mark the end of the property boom in Ireland?